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Jan 18, 2013
01/13
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cost structure, looking at technology, looking at taking out costs and everything because that is the environment when the i.t. budgets are much flatter. so from that point, we were looking quite good so far as we get into the next year. >> and last question, what do you think this company will look like in calm of years time? it's been through so many transformations, changing business over the years. is this going to be a company that is still heavily focused on i.t. services as you divest some of the other parts of the business? what do you think this will actually look like in, say, 2015? >> clearly, you've been clearly focused on i.t. services, we had the demerger announcement last quarter and we are progressing very well. so as we exhibit this for the calendar or near or on that, we should be able to be done in terms of activity. which means if we're limited now, it will contain only the products and services in the geography. services are globally. it will focus more and more in terms of momentum as we identify with the life sciences, energy, natural resources, liquidities all in terms of
cost structure, looking at technology, looking at taking out costs and everything because that is the environment when the i.t. budgets are much flatter. so from that point, we were looking quite good so far as we get into the next year. >> and last question, what do you think this company will look like in calm of years time? it's been through so many transformations, changing business over the years. is this going to be a company that is still heavily focused on i.t. services as you...
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Jan 21, 2013
01/13
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the bank of japan, if you monetize the debt in a low inflationary environment, is this a free lunch? >> right. >> in the uk, it has turned out to be a free lunch. would it in japan? possibly, yes, and, therefore, i wonder if these issues ever will be addressed. >> and what's so interesting, you're seeing these bizarre rates happening in a monetary policy. we feel like we're in a whole new regime where people feel like it doesn't matter at all. wondering if it matters at all how much you spend and borrow in these situations. how does it change, if at all your strategy from here? >> it makes having a long-term strategy really, really tough. and you can see that in the markets right now. what people see by more investment, it gets pushed into treasuries, into eks, and we see markets trading at very elevated levels. relative to fundamentals appears to become the norm. and i would argue that we're now in a world where it's very difficult to recruit any decent returns. as a result, as investors, we're going to have to live with that. >> and a lot of people are just closing up shop and sayi
the bank of japan, if you monetize the debt in a low inflationary environment, is this a free lunch? >> right. >> in the uk, it has turned out to be a free lunch. would it in japan? possibly, yes, and, therefore, i wonder if these issues ever will be addressed. >> and what's so interesting, you're seeing these bizarre rates happening in a monetary policy. we feel like we're in a whole new regime where people feel like it doesn't matter at all. wondering if it matters at all...
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Jan 14, 2013
01/13
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itself, when you've got growth and you've got employment opportunity, you've got income growth and environment of very low interest rate is headache to policymaker in which i think the government here continue to have to fine tunemakers every now and then essentially because after they tighten one time, they quiet down the market, but i comes back again because the liquidity flows remain strong. so whether this is the measures toned all measures remains to be seen, i think if the interest rate remains low, we may see further tightening after a period of quiet. i suppose contemplation, i think. >> stick right there. we also want to take a look at what is happening over in india. we're seeing mixed pictures on inflation. headline inflation slowed to its lowest level in three years, in fact. that was up about 7.2% from a year earlier and well shy of expectations. some say the lower than expected wpi fueled the rate cut from india. does this mean 25 basis point rate cuts and more to come? >> well, there's firm pressure from the politicians on the central bankers to do so. the growth is still rathe
itself, when you've got growth and you've got employment opportunity, you've got income growth and environment of very low interest rate is headache to policymaker in which i think the government here continue to have to fine tunemakers every now and then essentially because after they tighten one time, they quiet down the market, but i comes back again because the liquidity flows remain strong. so whether this is the measures toned all measures remains to be seen, i think if the interest rate...
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Jan 17, 2013
01/13
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and then the mortgage re-phi boom in this interest rate environment has been a boom in the past couple of years. those are going to expire at some point. with interest rates where they are, it's difficult for the banks on margin. there's no question the banking system is much stronger, earning better and is has much higher capital and liquidity than it's had probably forever almost. >> you know, well, that's quite a statement because there's a lot of people who would still say banks shouldn't necessarily be turning around and handing capital back to shareholderses. would you agree that given the improvements we've made, it's time for them to be allowed to go forward? >> i think that the banks have accumulated so much capital and that they really don't have a good use for it in light of the lack of qualified loan demand. i'm not saying lack of loan demand because there's a lot of loan demand. but the credit standards are much higher and you don't have much to do with the capital. so you have to give it back if you don't need it. i'm talking about toous banks. it's not true around the wo
and then the mortgage re-phi boom in this interest rate environment has been a boom in the past couple of years. those are going to expire at some point. with interest rates where they are, it's difficult for the banks on margin. there's no question the banking system is much stronger, earning better and is has much higher capital and liquidity than it's had probably forever almost. >> you know, well, that's quite a statement because there's a lot of people who would still say banks...